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AUD/USD Fundamental Analysis December 6, 2012, Forecast

By:
Barry Norman
Updated: Aug 21, 2015, 00:00 UTC

Analysis and Recommendation: The AUD/USD remains in a positive note, even after GDP tumbled this morning. The AUD is trading at 1.0481 losing some of this

AUD/USD Fundamental Analysis December 6, 2012, Forecast
AUD/USD Fundamental Analysis December 6, 2012, Forecast
AUD/USD Fundamental Analysis December 6, 2012, Forecast

Analysis and Recommendation:

The AUD/USD remains in a positive note, even after GDP tumbled this morning. The AUD is trading at 1.0481 losing some of this morning’s gains.  Gross domestic product (GDP) data released had little impact on the currency. The number came in close to expectation, so the market hasn’t really reacted to it; tomorrow’s employment data will be one that might influence the Aussie dollar more. Markets also paid little attention to yesterdays, RBA rate decrease or the under forecast building approvals data.

Today’s GDP report showed that the Australian economy grew by 0.5 per cent in the September quarter and by 3.1 per cent over the year to September, according to official data.

 US markets were becoming less concerned about the resolution to the fiscal cliff issue. Traders are coming to terms with the idea that we’ll get a benign deal that will help the US economy survive fiscal cliff concerns this year, and then drag things out in 2013. The fiscal cliff refers to a series of tax rises and spending cuts due to begin in early 2013 to address a budget deficit.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more up to the data analysis and information in our weekly reports.

Economic Data December 5, 2012 actual v. forecast

Date

 

Currency

 

 

Event

Actual

 

Forecast

 

Previous

Dec. 05

 

AUD

 

 

GDP (QoQ) 

0.5%

 

0.6% 

 

0.6% 

 

 

AUD

 

 

RBA Assist Gov Lowe Speaks 

 

 

 

 

 

 

Upcoming Economic Events that affect the AUD, NZD, JPY and USD

Date

Time

Currency

Event

Forecast

Previous

Dec. 07

00:30

AUD

Trade Balance 

-2.05B

-1.46B

Government Bond Auction

Date Time Country 

Dec 06 01:30 Japan 

Dec 06 09:50 France 

Dec 06 16:00 US 

Dec 07 16:30 Italy

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